Saving You Money For Life

Since the rush of wildfires in California, insurance coverage has been a hot topic of debate in the state’s regulatory offices. Homeowners will soon find out if their insurance policies are comprehensive enough to cover the damages. In this case, insurance coverage will need to handle rebuilding the home from the ground up.

Even if you’re not in any danger of suffering due to the rushing wildfires, it’s a reminder to us all that we need to double check our homeowner’s insurance policy and make sure that we’re fully covered in the event of a disaster like this. It’s a common problem. More than half of all homeowner’s are underinsured with only 80% of the coverage they need to be taken care of in the event of a disaster.

One of the reasons for being underinsured is forgetting to update policies after renovating the house. Additional rooms and construction were popular when the interest rates were so low, but of course, these new additions aren’t covered in the original policies. When disaster strikes and these new rooms or add-ons are destroyed, there’s no one to help you replace them. Make sure that your homeowner’s insurance is up to date to make sure that you are taken care of if the worst happens.

You can leave a response, or trackback from your own site.